The information below relates to the Cash account in the ledger of Wildhorse Company. Balance September 1—$17,180; Cash deposited—$64,400. Balance September 30—$17,764; Checks written—$63,816. The September bank statement shows a balance of $16,782 on September 30 and the following memoranda. Credits Debits Collection of $1,670 note plus interest $40 $1,710 NSF check: Richard Nance $605 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563. Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
The information below relates to the Cash account in the ledger of Wildhorse Company. Balance September 1—$17,180; Cash deposited—$64,400. Balance September 30—$17,764; Checks written—$63,816. The September bank statement shows a balance of $16,782 on September 30 and the following memoranda. Credits Debits Collection of $1,670 note plus interest $40 $1,710 NSF check: Richard Nance $605 Interest earned on checking account $55 Safety deposit box rent $75 At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563. Prepare the adjusting entries at September 30, assuming (1) the NSF check was from a customer on account, and (2) no interest had been accrued on the note. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter5: Cash Control Systems
Section: Chapter Questions
Problem 2AP
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Question
The information below relates to the Cash account in the ledger of Wildhorse Company.
Balance September 1—$17,180; | Cash deposited—$64,400. | |
Balance September 30—$17,764; | Checks written—$63,816. |
The September bank statement shows a balance of $16,782 on September 30 and the following memoranda.
Credits
|
Debits
|
|||||
---|---|---|---|---|---|---|
Collection of $1,670 note plus interest $40
|
$1,710 |
NSF check: Richard Nance
|
$605 | |||
Interest earned on checking account
|
$55 |
Safety deposit box rent
|
$75 |
At September 30, deposits in transit were $4,630, and outstanding checks totaled $2,563.
Prepare the
Date
|
Account Titles and Explanation
|
Debit
|
Credit
|
---|---|---|---|
Sept. 30
|
enter an account title to record note receivable on September 30
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record note receivable on September 30
|
enter a debit amount
|
enter a credit amount
|
|
enter an account title to record note receivable on September 30
|
enter a debit amount
|
enter a credit amount
|
|
(To record note receivable.)
|
|||
Sept. 30
|
enter an account title to record interest earned on September 30
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record interest earned on September 30
|
enter a debit amount
|
enter a credit amount
|
|
(To record interest earned.)
|
|||
Sept. 30
|
enter an account title to record NSF check on September 30
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record NSF check on September 30
|
enter a debit amount
|
enter a credit amount
|
|
(To record NSF check.)
|
|||
Sept. 30
|
enter an account title to record safety deposit rent on September 30
|
enter a debit amount
|
enter a credit amount
|
enter an account title to record safety deposit rent on September 30
|
enter a debit amount
|
enter a credit amount
|
|
(To record safety deposit rent.)
|
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